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BRIEFLY

Kaiser Aluminum's restructuring was approved.

April 29, 1987

Shareholders, by a margin of more than 9 to 1, approved an agreement with British investor Alan E. Clore, Kaiser Aluminum's largest shareholder, under which Kaiser Aluminum will become a subsidiary of a new holding company called KaiserTech Limited. Clore, who will be chairman of KaiserTech, will invest $140 million in the company. KaiserTech will replace Kaiser Aluminum as the publicly listed common stock, with KaiserTech common listed as "KLU" on the New York, Midwest and Pacific stock exchanges. Kaiser Aluminum Chairman and Chief Executive Cornell C. Maier, who will continue in those positions, told shareholders that the company's aluminum division will become profitable "sometime in the near future."

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